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US sanctions firms linked to Iran’s PGSA for ‘maritime extortion’

  • Persian Gulf Marine Insurance Company and HormuzSafe Marine Services designated by Ofac
  • Firms linked to Revolutionary Guards take payment from ships via cryptocurrency
  • US sanctioned Persian Gulf Strait Authority in May

The US slapped sanctions on two more firms that broker insurance and take payments for ships transiting the Strait of Hormuz, alleging the funds are channelled to the Revolutionary Guards

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